The AUASB Glossary [5]  (the Glossary) includes the terms defined in this ASRE as well as descriptions of other terms used in this ASRE, to assist in consistent application and interpretation. For example, the terms “management” and “those charged with …

For purposes of this ASRE, the following terms have the meanings attributed below: …

Analytical procedures ―Evaluations of financial information through analysis of plausible relationships among both financial and non‑financial data. Analytical procedures also encompass such investigation as is necessary of identified fluctuations or …

Engagement risk ―The risk that the assurance practitioner expresses an inappropriate conclusion when the financial statements are materially …

General purpose financial statements ―Financial statements prepared in accordance with a general purpose framework. …

General purpose framework ―A financial reporting framework designed to meet the common financial needs of a wide range of users. The financial reporting framework may be a fair presentation framework or a compliance …

Enquiry ―Enquiry consists of seeking information of knowledgeable persons from within or outside the entity. …

Limited assurance ―The level of assurance obtained where engagement risk is reduced to a level that is acceptable in the circumstances of the engagement, but where that risk is greater than for a reasonable assurance engagement, as the basis for …

[Deleted by the AUASB.  Refer Aus 17.1(l)] …

Professional judgement ―The application of relevant training, knowledge and experience, within the context provided by assurance, accounting and ethical standards, in making informed decisions about the courses of action that are appropriate in the …